GFCL EV Products Limited unlisted share
₹41▼2.38%(1.00)
About the company
GFCL EV Products Limited is an Indian battery-materials company focused on building an integrated manufacturing platform for the electric vehicle (EV) and energy storage system (ESS) battery value chain. The company is a subsidiary of Gujarat Fluorochemicals Limited (GFL) and forms part of the broader INOXGFL Group.
Incorporated in December 2021, GFCL EV Products is developing capabilities across key battery-material categories, with its manufacturing operations located in Gujarat. The company's strategy is centred around supplying critical materials required for lithium-ion and emerging battery technologies while leveraging GFL's established expertise in fluorine chemistry.
GFCL EV Products Business Model
GFCL EV Products operates in the battery materials and EV supply-chain sector. Its product portfolio includes:
LiPF6 – lithium-ion battery electrolyte salt
NaPF6 – electrolyte salt for sodium-ion batteries
PVDF – battery binder material
Electrolytes and electrolyte formulations
LFP Cathode Active Materials (CAM)
Battery additives and related materials
The company is pursuing an integrated battery-materials model covering different stages of the value chain, from raw materials and intermediates to battery-material products. Its official product information identifies LiPF6, NaPF6, PVDF, electrolytes and LFP CAM among its offerings.
GFCL EV Products and Battery Materials
GFCL EV is positioned around the growing demand for EV batteries, energy storage systems and battery materials. Its product portfolio is designed to address important components used in lithium-ion battery manufacturing, including electrolyte salts, binders, electrolytes and cathode active materials.
The company's strategy also includes sodium-ion battery materials, providing exposure beyond conventional lithium-ion battery chemistry.
Manufacturing & Expansion
GFCL EV is developing a large-scale battery-materials manufacturing complex at Jolva, Gujarat. IFC's project disclosure states that the facility is being commissioned in phases, with some units already having started production. The project covers products including electrolytes, salts, binders and cathode active materials.
GFL announced an investment plan of approximately ₹6,000 crore over four to five years for GFCL EV's battery-materials expansion, with the objective of creating capacity to support EV and ESS battery demand.
Fundamentals
Valuation
Registry
| Metric | Value |
|---|---|
| PAN number | AAJCG4540K |
| ISIN number | INE0KA501014 |
Figures in lk ·
Financials
| P&L Statement | 2026Latest | 2025 | 2024 | 2023 |
|---|---|---|---|---|
| Revenue | 3322 | 944 | 37 | 0 |
| EBITDA | -8049 | -2780 | -178 | -315 |
| OPM | -242.29 | -294.49 | -481.08 | - |
| PBT | -12256 | -3203 | -362 | -274 |
| PAT | -10431 | -2700 | -300 | -274 |
| EPS | -0.14 | -0.04 | 0 | -0.01 |
Shareholding Pattern
| Holder | Percentage |
|---|---|
| Gujarat Fluorochemicals Limited (Promoter) | 96.89% |
| Others | 3.11% |
Leadership
Frequently asked questions
Common questions on GFCL EV Products Limited unlisted share—tap a row to read the answer.
Q.1What does GFCL EV Products Limited do?
GFCL EV Products Limited manufactures advanced battery materials used in lithium-ion batteries for electric vehicles (EVs) and energy storage systems. The company produces key battery components such as electrolyte salts, electrolyte additives, electrolyte formulations, and Lithium Iron Phosphate (LFP) Cathode Active Material (CAM). Its products are designed to improve battery performance, safety, efficiency, and durability.
Q.2Is GFCL EV Products Limited a listed company?
No. GFCL EV Products Limited is currently an unlisted company. Its shares are not traded on the National Stock Exchange (NSE) or Bombay Stock Exchange (BSE). Investors interested in the company may be able to buy its unlisted shares through private market transactions, subject to availability.
Q.3Why is GFCL EV Products attracting investor interest?
GFCL EV Products operates in the fast-growing battery materials segment, which plays a critical role in the global transition toward electric mobility and renewable energy storage. Its integrated manufacturing capabilities, focus on essential battery materials, and exposure to the expanding EV ecosystem have made it a company that many long-term investors closely follow.
Q.4What products does GFCL EV Products manufacture?
The company manufactures several critical materials used in lithium-ion batteries, including electrolyte salt (LiPF6), electrolyte additives such as Fluoroethylene Carbonate (FEC) and Vinylene Carbonate (VC), customized electrolyte formulations, and Lithium Iron Phosphate (LFP) Cathode Active Material (CAM). These materials are used by battery manufacturers to improve battery efficiency, charging performance, and operational safety.
Q.5Can retail investors buy GFCL EV Products unlisted shares?
Yes. Retail investors can invest in GFCL EV Products unlisted shares if shares are available from existing shareholders in the private market. Since the company is not publicly listed, availability may vary, and investors should verify pricing, documentation, and transfer procedures before completing a transaction.
Q.6Does GFCL EV Products support different battery technologies?
Yes. One of the company's key strengths is its battery-agnostic approach. GFCL EV Products develops battery materials that are compatible with both Lithium Iron Phosphate (LFP) and Nickel Manganese Cobalt (NMC) battery chemistries, allowing it to serve a wide range of battery manufacturers and EV applications.
Q.7What are GFCL EV Products Limited unlisted shares?
GFCL EV Products limited Unlisted Shares are the equity shares of the company which are not listed on the recognized stock exchanges like NSE or BSE. The company is an active public unlisted company which deals in the advanced battery-materials sector. GFCL EV Products Ltd. is engaged in developing and manufacturing a wide range of materials for lithium-ion battery cells, electrolytes, battery salts, binders, and cathode active materials. Investors considering these shares should research the company’s financial performance, valuations, manufacturing base, project execution ability, sectorial position, and liquidity to make a well-informed decision. Since the shares are privately traded, their price and quantity may differ between sellers.
Q.8How can I buy GFCL EV Products unlisted shares?
While GFCL EV Products unlisted shares are generally available for purchase through an established unlisted-share intermediary, investors should be aware that they may not always be available at the same price or quantity. The process typically involves completing KYC and providing PAN and demat account details, confirming the quantity and indicative price, making payment and completing the off-market transfer of shares. Investors should confirm the latest indicative price, minimum quantity, transaction charges and transfer process before completing a purchase.
Q.9What is the current GFCL EV Products unlisted share price?
GFCL EV Products does not possess a typical NSE or BSE market value since the business is unlisted at the moment. The latest private market quotations for GFCL EV Products have consistently been between INR 39 and INR 41 per share, although this is only a rough indication of the value of the asset. The value of unlisted stocks is volatile and may change according to the supply-demand dynamics, company news, investor appetite, total shares, and deal sizes. Therefore, investors should double-check the latest quotation on a deal-specific basis and should not purchase or sell GFCL EV Products shares at a specific price.
Q.10Is GFCL EV Products Limited a pre-IPO company?
GFCL EV Products Limited is an unlisted public company now, which makes it an attractive option for private-market investors who are looking for pre-IPO discoveries. However, as of now, the DRHP Status: No, which means that there is no certain knowledge of an IPO that would make it available to the public. The company has the attention of institutional investors, who have an IFC investment structure that converts preference shares into ordinary ones upon a qualified public offering or another liquidity event. This is not to be confused with any certain knowledge of an IPO.
Q.11How can I invest in GFCL EV Products pre-IPO shares?
Investors who are interested in GFCL EV Products may be able to buy some shares in the private unlisted market, if any are available. Before investing, it is important to understand the company's business of battery materials, its manufacturing plans and technology, customer opportunities, financial and valuation. The company is operating in a fast-developing EV and energy-storage ecosystem, but there are also risks associated with technology, capital expenditure, raw materials, execution and market-adoption. It should be remembered that buying an unlisted share does not guarantee a future IPO. The investment should therefore be assessed based on its business opportunities and valuation.
Q.12What is the minimum investment required for GFCL EV Products unlisted shares?
There is a minimum amount not stipulated by NSE or BSE because GFCL EV Products is not listed on any of the two exchanges. Minimum quantities may be determined by the seller, intermediary, stock availability and terms of sale. In private market deals, there is usually a minimum lot size or quantity stipulated which can be subject to change. Traders also need to consider available quantity, indicative price and total value of the deal before finalizing an order. Liquidity and holding period should also be considered since an unlisted share may not be as easily sold as listed stocks.
Q.13How can I sell GFCL EV Products unlisted shares?
The shares of GFCL EV Products which are unlisted can usually be sold through an intermediary for unlisted shares or to an eligible buyer in the private market, subject to availability and applicable transfer requirements. As there is no continuous order book of NSE or BSE, an immediate buyer may not be available. Also, the actual selling price may differ from the purchase price or indicative online quote. Prior to selling, investors should check the available buyer, transaction charges, transfer procedure, settlement timeline and applicable tax implications. Lower liquidity is an important factor to consider while investing in unlisted shares.
Q.14What is the lock-in period for GFCL EV Products unlisted shares?
The applicable lock in will depend upon the circumstances in which the shares are acquired and the applicable regulations at the time of any future listing. The unlisted shares do not necessarily have one universal lock-in period that applies to every investor and every transaction. If GFCL EV Products were to proceed with a qualified public offering or IPO in the future, there may be specific regulatory requirements which might apply to the shares held before listing. Investors therefore should check the applicable rules and transaction documents at their time of investment rather than assuming any specific lock in period. A possible future listing should also not be considered as a given.
Q.15Is buying GFCL EV Products unlisted shares legal in India?
Buying and selling shares of an unlisted Indian company can be done legally when the transaction is done through proper channels and conforms to the applicable company, securities, tax and KYC laws. Before buying the shares, investors should check the legal status of the given company, the ISIN of the shares, the sellers’ ownership, demat transfer process and the transaction paperwork before paying the money. The fact that unlisted shares have a lesser liquidity and less transparent pricing mechanism compared to the listed shares means that investors should consider the due diligence of the stock before purchasing it. It is also important to comprehend the related charges and taxes and the potential withdrawal limitations applicable to the given security before investing.
Q.16Why does the GFCL EV Products unlisted share price change?
The GFCL EV Products unlisted share price can change because there is no continuous exchange-based price discovery mechanism. Private-market pricing can be influenced by company performance, battery-material demand, manufacturing capacity, project execution, investor interest, available share supply, valuation expectations and transaction size. Developments in the electric-vehicle and battery-storage industries can also influence investor expectations. As GFCL EV is expanding in advanced battery chemicals and materials, progress in its manufacturing and commercial operations may affect private-market valuations. Therefore, an indicative price should be treated as a reference rather than a guaranteed market value.
Q.17What does GFCL EV Products Limited do?
GFCL EV Products Limited is engaged in the research and development of advanced chemicals and materials for lithium-ion batteries used in electric vehicles and stationary energy-storage systems. The company's product portfolio comprises LiPF6 and NaPF6 battery salts, electrolytes, PVDF binders and LFP cathode active materials. The company is further developing competencies in multiple battery material segments with an objective to support electric vehicle and energy-storage applications. GFCL EV's business is a part of the broader INOXGFL Group's energy-transition strategy and is focused on building an integrated battery-materials platform.
Unlisted Trending shares
High-demand unlisted opportunities currently available for trade.
MARKET INSIGHTS & UPDATES
Read the latest updates, investment ideas, and market insights designed to help investors better understand unlisted and pre-IPO opportunities.

Garuda Aerospace–BSNL Partnership: What It Means for Unlisted Shares and the Upcoming IPO
Garuda Aerospace’s partnership with BSNL marks a potential step towards connected drone technology across agriculture, infrastructure, public safety and disaster management. With reported IPO plans and growing investor interest in its unlisted shares, explore the company’s FY26 financial performance, valuation, growth opportunities and key investment risks with Dhankirti Wealth.

Top 10 Unlisted Shares in India in 2026: Companies, Fundamentals & What Investors Should Know
Explore 10 unlisted shares in India in 2026, including MSEI, Garuda Aerospace, OYO, Goodluck Defence, 63SATS, NCDEX, API Holdings and more.

Unlisted Share Price List India — Buy and sell Pre-IPO Shares
Unlisted shares pertain to equity shares which are not listed on recognized stock exchanges. This guide explains the mechanics of unlisted shares, the process by which an investor can purchase them, the method of valuation and red flags which should be noted by an investor prior to buying unlisted shares. The article also highlights the differences between listed, unlisted, and pre-IPO shares while discussing the risks such as low liquidity, valuation, business, and IPO risk. The article provides a checklist and frequently asked questions to understand the nuances of unlisted shares.

MSEI, Zepto and Other Pre-IPO Shares Move: 2026 Performance
MSEI surged over 124% while Zepto declined nearly 48% in 2026. Explore how other pre-IPO and unlisted shares performed and what the latest market trends mean for investors.

Sagar Defence Unlisted Share: Price, Financials & Why Investors Are Watching This Defence-Tech Stock
Sagar Defence Engineering's unlisted shares are drawing attention as India's defence-tech push gains momentum. Here's a look at the company, its FY26 numbers, and what to know before investing.

API Holdings & MSEI Unlisted Shares Surge: What’s Driving the Rally?
API Holdings and MSEI unlisted shares are witnessing sharp price movements, attracting fresh investor attention. Discover what is driving the rally, the latest trends and key factors to consider before investing.
